Moonpay Launches Web3 Tools Platform to Simplify Brands' Entry into Crypto

Blockchain payments infrastructure firm Moonpay has launched a new platform called Web3 Tools, aimed at helping brands offer a simpler Web3 experience to consumers. The platform provides a suite of features including authentication, identity verification, token-gating, ticketing, and insights to empower brands to build communities, foster loyalty, and unlock new revenue streams. Global brands like Adidas, Gucci, Puma, and Mastercard have already utilized the platform for their Web3 initiatives. For example, Puma used Web3 Tools to create digital twins of its latest collections, allowing customers to purchase digital sneakers redeemable for physical pairs. Moonpay developed Web3 Tools using technologies from its acquisitions of NFT solution EthPass, Plex Labs, and Nifty’s. Moonpay CEO Ivan Soto-Wright emphasized the need for safety and simplicity in the Web3 space for brands to confidently bring new commerce opportunities to market. The company also offers assistance in compliance, KYC, AML practices, and fraud prevention to bridge the gap between Web2 and Web3.